To set a shortcut, go to Run macro by... section in the macro editor and click +Text Shortcut:

A new text shorcut prompt will appear:

Click to the prompt line and type a key sequence (you may include spaces), for example:

Once you click OK and then close Hot Keyboard window, your macro will be executed upon you type wbr in any application

Important Note: after you type a text shortcut to execute a macro, Hot Keyboard sends a number of backspace characters
to the application where you have typed the shortcut. So, you can use text shortcuts to perfrom inline replacing by execution of Paste Text macros:

Notes

Text shorcuts work even if active application does not accept text entrance. In this case it simply executes an associated macro, which obviously should not be Paste Text